Partners Feud Over $103M Payday at Heins Mills in Minn.
Posted May 19, 2008 10:21 AM CST
By Martha Neil
A $103 million payday at a Minneapolis law firm has proven to be cause for unhappiness rather than celebration.
Current and former partners at Heins Mills & Olson are now feuding over how to split the pot, which represents attorney fees in a $2.65 billion settlement against AOL Time Warner in 2005 concerning misleading statements, reports the Star Tribune.
Former partners, including Alan Gilbert and Brian Williams, say the $4 million share each got wasn't enough. A trial is scheduled next month in Hennepin County District Court over the lawsuit Williams filed to try to get a bigger piece of the pie.
Heins and his wife, Stacey Mills, who is also a partner in the firm, got $48 million and $32 million, respectively. However, he says a substantial chunk of that money went to reimburse the firm for its costs in the case, the Minneapolis-St.Paul newspaper reports.